Apprentice can you create a strategy based on the Trend SR and particular at the Support and Resistance section ?
It's a breakaway strategy
Please name it 123
The strategy goes like this :
Enter Long :
When the indicator create a new High line the strategy buy when the price touch that new high line
and the corresponding Low line should be the first where it will be create at the bottom and at the right side of the high line
Enter Long Stop :
The strategy exit the trade when the price reach the level of the corresponding Low line
The stop will remain active until the trade close by Limit or the price reach the stop
Enter Long Limit :
The 1,618 of the Fibonacci retracement from High line to corresponding Low line
Enter Short :
When the indicator create a new Low line the strategy short when the price touch that new low line
and the corresponding High line should be the first where it will be create at the top and at the right side of the low line
Enter Short Stop :
The strategy exit the trade when the price reach the level of the corresponding High line
The stop will remain active until the trade close by Limit or the price reach the stop
Enter Short Limit :
The 1,618 of the Fibonacci retracement from Low line to corresponding High line
Definition of corresponding Low Line for Long trades
As the price goes up and the indicator create a high line at the top the corresponding low line should be the first where it will be create at the bottom and at the right side of the high line
Definition of corresponding High Line for Short trades
As the price goes down and the indicator create a low line at the bottom the corresponding high line should be the first where it will be create at the top and at the right side of the low line
So in both cases the corresponding lines must be at the right side of the line where will be touch and trade
Definition of Allow multiple : Yes/No
Keep in mind the strategy to trade only once when the price touch the High or Low line.
If the price touch the same line again, the strategy should not trade again but to be able to trade in future positions even if previous trades didn't closed yet. The same for the order remain active.
Only one trade if the order remain active but multiple positions if the trade didn't close
Definition of Order remain active : Yes/No
In some cases the price don't touch the High or Low line but the trade goes as the strategy predicts. If the option order remain active is NO the strategy do not trade
if the price do not touch the line. If the option order remain active is YES the strategy trade although the price don't touch the line and the order CANCEL if did not execute
when a new line is created.
Price type : Bid, Ask
Allow strategy to trade : Yes/No
Allowed side : Buy, Sell, Both
Period :3,4,5,6,....
Time frame :1m,5m,15m,....
Trade amount in lots : 1,2,3,4,.....
Type of signal : Direct/Reverse
Allow multiple : Yes/No
Position limit :0,1,2,3...(Zero for unlimited)
Close on opposite : Yes/No
Order remain active : Yes/No
Thank you for your effort.